Investors in People (IIP) is a national standard which sets out a level of good practice for training and development of people within a business environment.
The standard provides a national framework for improving business performance and competitiveness by developing employees and encouraging continuous improvement.
The Department funds the consultancy element required to assist the business through the process, with the business funding the accreditation application.
The practical benefits of working towards and achieving the Standard include:
- Improved earnings, productivity and profitability. Skilled and motivated people work harder and better, so improving productivity
- Customer satisfaction. Investors in People organisations are central to helping employees become customer focused, thus enabling the organisations to effectively meet customer needs.
- Improved motivation. Through greater involvement, personal development and recognition of achievement, motivation is improved. This leads to higher morale, improved retention rates, reduced absenteeism, readier acceptance of change and identification with the organisation beyond the confines of the job.
- Reduced costs and wastage. Skilled and motivated people constantly examine their work to contribute towards reducing costs and wastage. Enhanced quality investing in people significantly improves the results of quality programmes. Investors in People adds considerable value to The Excellence Model, ISO 9000 and other total quality initiatives.
- Competitive advantage through improved performance. Investors in People organisations develops a competitive edge.
- Public recognition. Investor in People status brings public recognition for real achievements measured against a rigorous National Standard. Being an Investor in People helps to attract the best quality job applicants. It may also provide a reason for customers to choose specific goods and services.
The additional benefits an organisation can gain to accrue from the Standard are:
- The opportunity to review current policies and practices against a recognised benchmark
- A frame work for planning future strategy and action
- A structured way to improve the effectiveness of training and development activities